"_My dear Mr. Hall_,--It is possible that I may purchase a majority of the stock of the Elevated Railroad, but _before deciding_ I wish to ascertain whether, if I do, you will remain in the board with Mr. David Dows, myself, and some other gentlemen of character and financial strength, and also whether you will take bonds at sixty cents for the debt now due you. If I have anything to do with the company I want it free from _all floating debt_, and everything purchased at the lowest price for cash. "Mr. Dows has told me this morning that he will remain in the board and will take bonds for the $25,000 due him, provided I make the purchase and accept the presidency of the company. "Will you have the kindness to see our mutual friend, Mr. A. S. Barnes, and ascertain whether he will take bonds for the debt due him and remain as a director. If I go into the concern I shall be willing to be president, but _without salary_, for the enterprise, to be a success, must be managed in every way with the greatest economy. "An early answer will oblige. "Very truly your friend, "CYRUS W. FIELD." His promptitude and energy are shown in the fact that on June 4th, less than three weeks after he took charge, a public meeting in favor of rapid transit was held. "_The Evening Post_, "NEW YORK, _June 4, 1877_. "TO CYRUS W. FIELD, Esq.: "I cannot be present at the meeting to be held this evening at Chickering Hall, but I am heartily with you and your friends in the object of the meeting. I hope that a decided expression will be given to the conviction that an absolute necessity has arisen of instituting some method of conveying passengers between the upper and lower parts of the city which shall unite the greatest convenience with the utmost possible speed. "Yours faithfully, "WM. C. BRYANT." Mr. Charles O'Conor wrote on the same day to the chairman of the meeting: "I much regret my inability to attend the meeting in favor of rapid transit, the state of my health not admitting of my doing so. I fully sympathize, however, with the objects sought to be obtained, and here repeat the remarks which I made in closing my address before the New York Historical Society at the Academy of Music on the 8th of last month: